Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington.
The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor’s 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69.
Investors are waiting on developments from Washington in the budget talks, which are aimed at avoiding the “fiscal cliff.” That refers to a series of sharp government spending cuts and tax increases that begin to kick in Jan. 1 and could eventually cause a recession.